案例库 · 战略与领导 · 战略决策 · 1999
这条还没译成中文，下面是英文原文。
BMW opened a bank via a charter the law's own definition missed
BMW opened a bank via a Utah charter that fell outside the law's definition of 'bank'.
BMW Bank of North America (BMW Group)
那一手
The Bank Holding Company Act of 1956 was written to keep banking and commerce separate: a company that owns a 'bank' as the Act defines it becomes a regulated bank holding company, subject to Federal Reserve oversight and barred from most non-financial business lines. For a carmaker that wanted to offer its own dealers and customers financing, checking accounts, and credit cards directly, that meant owning a deposit-taking institution was legally closed off -- unless the institution it wanted to own did not count as a 'bank' under the Act's own words.
It did not, by accident of drafting. In 1987 Congress passed the Competitive Equality Banking Act to close a different loophole (the 'nonbank bank' workaround), and in doing so it redefined 'bank' to sweep in most FDIC-insured deposit institutions -- but grandfathered a short list of older charter types, including the industrial loan company (ILC), that had existed since early in the century as small local lenders to industrial workers and had never been the target the drafters had in mind. Utah, which chartered ILCs, lifted its own moratorium on new charters in 1997 and began actively marketi
为什么管用
- The Bank Holding Company Act's ban applies only to entities meeting its narrow definition of 'bank'.
- The 1987 CEBA amendment grandfathered industrial loan companies, which were not the target of the original ban.
- Utah actively chartered ILCs, providing a legal route for commercial ownership.
- BMW's ILC was FDIC-insured and deposit-taking, but its parent ownership did not trigger the Act's restrictions.
可以搬走什么
When a regulation bans owning X, check its definition of X—a distinct entity doing the same job may fall outside it.
后来呢
BMW Bank, chartered in Utah in 1999, grew to roughly $12 billion in assets; by 2005, 15 of 58 US industrial banks were commercially owned.
资料来源
- BMW planning to open a national bank in S.L. sometime in the fall
- Tangled Up in Technicalities -- An Historical Perspective on the Current ILC Debate
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